| Show Report Says Cost of Living i iLess Less Than in 1943 I First Year of the Line Program I Shows Complete Success Success According To Vinson Bowles Davis and Jones I WASHINGTON April 7 UP President UP-President President Roosevelt at th the c close ose of the first year of his hold the line program of ec economic economic eco eco- j stabilization made public Friday a report showing that the cost of living actually is lower now than it was a year ago The report was prepared prepared- for j Mr by Stabilization n Director Director Di Dl j rector Fred M. M Vinson Price Administrator Administrator Ad Ad- i Chester Bowles Bowies War Food Administrator Marvin Jones io s I and War Var Labor Board C Chairman William Wllliam H. H Davis I It was on April 8 Br 1943 that Mr Roosevelt issued his hold the line order directing that the the stabilization u be strengthened strength strength- ened and held The four economic lc chiefs reported report report- ed to hi him th that t th Ithe the task of or stopping stopping stopping stop stop- ping the rise in prices has thus far been carried out As a result the cost of living which before the hold the order order or der was rising three-fourths three per percent percent percent cent a month has for a solid year been held without change change- of any consequence said the report which the president read to his press and radio conference Slightly Lower S The general level of the cost of living has not been permitted permUted to rise Indeed the cost of living living living liv liv- ing as a a. whole is slightly lower than it was a year ago today This record record one one year of stable living costs is Unprecedented d I either In this war or in iii the last war S 1 Asked wh whether ther th the rep was report rt w s I If I f j President Throws Off J. J TraceS TraceS' of Illness WASI i u UP UP P President eslit nt Roos Roosevelt v lt me meeting Ung press and radio co correspondents con cor respondents In hi his first news news confere conference ee ce since March 28 looked better Friday than he helias has lias in recent weeks and seemed to have hse thrown off oft most of ot the visible or audible audible audible audi audi- ble traces of his recent ill Ill- ness S Sa a reply to demands for removing the Little Steel formula limitation limitation limita limita- tion on wage increases Mr Roosevelt Roosevelt Roosevelt Roose Roose- velt shot ba back k that it was not an answer to anything that it was a statement of fact The president reading the re report report report re- re port stopped to say that he thought it was very important although 81 although al al- though the fight against inflation Inflation tion had been soft pedaled in th the thelast thelast last two or three months The governments government's stabilization policy he said was succeeding in keeping prices from going through 1 the roof and automatic automatically lly bankrupting bankrupting bankrupting bank bank- most everybody in the i United States 1 No Relaxation Mr Roosevelt read with emphasis j sis portions of the report which said We must not Jeopardize these gains by any change of policy pol policy pol policy icy or r relaxation of effort in the I critical months ahead 1 All the underlying conditions which could ca cause se a sharp rise in prices are still present the report re report re- re port said The best estimates now i available indicate for example j I that the gap bet between een the income 1 of the American people after taxes and the volume of go goods ds I I available for them to buy will be even greater this year than it was nasin was nas I in 19 1913 3 Pocketbooks Pocketbooks' and che check checking checkIng check check- k I ing accounts are bulging with money which would make it difficult difficult cult to hold prices down if we went wenton I Ion on a wide nation-wide buying spree J The need for or continued restraint restraint restraint re re- and continued cooperation with every pha phase e of the stabilization stabilization a- a tion program is evident Obviously Obvious Obvious- ly too we should cling to the I policies and machinery which have i served us so effectively thus far I In Increases Offset i j I The report acknowledged edged that I there had been some increased prices such as in clothing but i these rises 11 were fully offset by j decreases in prices of other items particularly in food The nations nation's basic wage structure structure I ture has remained substantially unchanged during the period of wage stabilization the report continued pointing out that total j earnings had actually increased due to factors not regulated by wage control such as overtime p pay y yand j. j and that the W La L B had granted j some adjustments to correct inequities inequities in in- j equities and The general effect of our policy 1 has been to increase the earnings I of low wage groups or some some of I those which lag behind the general I i upswing of wages i tl I I I J |
